The latest events in the Nigerian Automotive industry mirror the new heights the industry is fast attaining. To this end, the Federal Government of Nigeria, via the institution designated for the regulation of activities in the auto space – the National Automotive Design and Development Council (NADDC) – has commended automakers for their tremendous financial investments made in the country’s auto industry, to the tune of more than one billion naira every year.
Producing and manufacturing cars locally will create more jobs
This was voiced by the Director-General and CEO of the NADDC Jelili Aliyu at an event that showcased several local vehicle manufacturers and assemblers in the country. The NDDC leader particularly appreciated the efforts of Innoson Vehicle Manufacturer (IVM), Peugeot Automobile Nigeria (PAN), Stallion and others for blazing the automotive trail in Africa’s largest nation. On the downside, he expressed dissatisfaction over the loss of more than eight billion dollars due to old and used car imports, around 300,000 and 400,000 every year.
>>> The NADDC is waging war against the importation of auto components! Nigeria must stop the importation of auto components says NADDC boss!
Shehu Dauda – Executive Director of Sales and Marketing at PAN – who was present at the event expressed his joy over his organization’s collaborations with the government and hoped that such collaborations would further expand the Nigerian auto industry.
Watch the made-in-Nigeria cars showcased at the 2018 International Lagos Trade Fair, courtesy of the NADDC!
Also, present as the event was Adeniyi Adebayo – Minister of Industry and Investment. Doing the honors of declaring the event open, the Minister commended the agency and participating automakers for a job well done in promoting locally produced cars. He also affirmed that the current administration was keen on boosting the auto industry to create employment opportunities for its people.
These development strides are happening as the government is set to review the Nigerian Auto Policy with the aim of positioning the country as a major player in producing, assembling and procuring vehicles.